Mortgage Rate Rises
- Thread starter glenimp617
- Start date
just my luck
Hard life having so much money that you could pay off your mortgage tomorrow and are worrying about where best to utilise your vast wealth. My heart goes out to you
Hard life having so much money that you could pay off your mortgage tomorrow and are worrying about where best to utilise your vast wealth. My heart goes out to you
Pay off the mortgage and not really have much of a backup, if i have to survive 6-12 months with no job, or if i needed a replacement car, or wanted to put money towards a new property
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99% of people who aren't retired already or have their homes paid off are in exactly that same situation but with a honking great mortgage over their heads or rent to pay every month. You are in a very very comfortable position fundamentally.
not quite sure how i'm moaning.Am I reading a post of you moaning again
Deja vu
just pointing out the obvious
not quite sure how i'm moaning.
just pointing out the obvious
How are you getting deja vu ? iv not really commented on mortgage rates rising recently due to , what probably is down to the bad economy, rising inflation again
I get deja vu when people comment "have i scanned it yet", i deal with it
The question was a legit one.
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We'll have to start saying the new boomer has arrivednot quite sure how i'm moaning.
just pointing out the obvious
Soldato
- Joined
- 25 Mar 2004
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Well I locked in a potential switch to barclays at 4.4% no fee 2 year fix, hopefully the Iran thing is short lived and I can get a better rate before August
Average age of first time buyer climbs to 34
A new report looks at how conditions have changed for first time buyers since the 1990s.
www.bbc.co.uk
I love it when people try to say that the young of today don't have it way harder. By every metric buying a house is getting harder as time goes by.
- Average age of first time buyer
- Percentage of people getting help from mum/dad/family/inheritance
- Percentage of people buying as a couple.
- Average mortgage term
Literally the only mitigation is that more people are opting to buy houses over flats as a FTB which is again, an indictment that people don't think there is a housing "ladder" any more and that its so expensive to buy a property that they are better off waiting a bit longer and skipping a step.
You do realise that most people cant afford any of those things, let alone all of them like yourself?
The benefit of paying the mortgage off is you can invest all or most of what you would have been paying per month on the mortgage so that money is then actively working for you.
The benefit of not paying off the mortgage is you can like make that money work harder for you in the markets.
I guess there's several ways of looking at it, all very dependant on personal circumstances and long term goals.
The psychological aspect is nice though.. The house is then yours and no one can take it away from you. Plus not having rent or mortgage payments taking a massive chunk out of your salary gives you a lot of options.
This is all general statistics though so what was general in 1990 is still general now. Its still a bleak comparison.